The technical parameters and fundamental factors have a greater chance of moving up the markets now. Technically the moving averages etc are suggesting that strong support lies quite near the present level of market and daunting patterns are visible. Fundamentally, we have already had good growth performance and positive forecasts from nearly all concerned quarters. The next result season is to commence within the next thirty days, so every passing day will be making those with cash in hand to go for some or the other stock, just so the bus is not missed by them. Also, those who hold stocks do not not want to unload any part of it in a hurry.
This is what explains why the tickle or rush of IPO offering is failing to have bearing on secondary market. There is no worrisome news flow and whatever negative sort of news comes does not carry much weight. The ratios are not distorted. The general mood is upbeat. The risk-reward ratio is favourable also. So, naturally, we also have to maintain a positive bent of mind.
I have done this loud thinking to enable you to grab a piece of my mind and build your own model and work accordingly. Nifty may have gone up today only marginally but it surely came back from the lows of today in fairly decisive manner.
Hari Om,
Krsna Khandelwal
BIRDINFO Stock Rx - A prescription for stock market
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